A methodology for assessing the level of financial and economic security of the region

Abstract

Subject. The article considers a methodology for assessing the level of financial and economic security as an integral indicator of particular types of security, which include budget and tax security, investment security, banking and credit security, and price security. Objectives. The purpose is to test the methodology for assessing the level of financial and economic security of the subjects of the Russian Federation, which makes it possible to rank the regions and distribute them into appropriate groups that characterize different levels of security. Methods. The study draws on general scientific methods of cognition and statistical methods of research. Results. The results of calculations enabled to rank the regions according to the level of financial and economic security. The analysis shows that there have been no drastic qualitative changes in the level of security over the past decade. The regions demonstrate a relatively stable state of security. Conclusions. The study reveals significant differentiation of regions in terms of financial and economic security, reflecting the uneven socio-economic development of the subjects of the Russian Federation and significant territorial disparities. It is crucial to develop a new management approach that takes into account the new environmental conditions characterized by ongoing transformational processes in the society and the State. A methodology enabling to assess the subjects of the Russian Federation by the level of financial and economic security will determine the place of each region in the overall security system and facilitate informed management decisions.